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Quarterly Results of Operations (Unaudited)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results of Operations (Unaudited)
Note 27 — Quarterly Results of Operations (Unaudited)
 
Quarters Ended
 
December 31, 2019
 
September 30, 2019
 
June 30, 2019
 
March 31, 2019
Revenue
$
261,171

 
$
283,660

 
$
274,493

 
$
304,051

MSR valuation adjustments, net (1)
829

 
134,561

 
(147,268
)
 
(108,998
)
Operating expenses
138,858

 
179,430

 
184,381

 
171,270

Other income (expense), net
(85,899
)
 
(277,108
)
 
(27,177
)
 
(64,867
)
Income (loss) before income taxes
37,243

 
(38,317
)
 
(84,333
)
 
(41,084
)
Income tax expense
2,370

 
4,450

 
5,404

 
3,410

Net income (loss) attributable to Ocwen stockholders
$
34,873

 
$
(42,767
)
 
$
(89,737
)
 
$
(44,494
)
 
 
 
 
 
 
 
 
Earnings (loss) per share attributable to Ocwen stockholders
 
 
 
 
 
 
 
Basic
$
0.26

 
$
(0.32
)
 
$
(0.67
)
 
$
(0.33
)
Diluted
0.26

 
(0.32
)
 
(0.67
)
 
(0.33
)

(1)
Positive valuation adjustments indicated in the above table represent fair value gains and negative valuation adjustments represent fair value losses.
 
Quarters Ended
 
December 31, 2018 (1)
 
September 30, 2018
 
June 30, 2018
 
March 31, 2018
Revenue
$
310,929

 
$
238,278

 
$
253,581

 
$
260,257

MSR valuation adjustments, net
(61,762
)
 
(41,448
)
 
(33,118
)
 
(17,129
)
Operating expenses
241,057

 
176,078

 
172,532

 
189,372

Other income (expense), net (2)
(15,873
)
 
(61,025
)
 
(76,336
)
 
(48,791
)
Income (loss) from continuing operations before income taxes
(7,763
)
 
(40,273
)
 
(28,405
)
 
4,965

Income tax expense (benefit)
(4,012
)
 
845

 
1,348

 
2,348

Income (loss) from continuing operations
(3,751
)
 
(41,118
)
 
(29,753
)
 
2,617

Income from discontinued operations, net of income taxes
1,409

 
—

 
—

 
—

Net income (loss)
(2,342
)
 
(41,118
)
 
(29,753
)
 
2,617

Net income attributable to non-controlling interests
—

 
(29
)
 
(78
)
 
(69
)
Net loss (income) attributable to Ocwen stockholders
$
(2,342
)
 
$
(41,147
)
 
$
(29,831
)
 
$
2,548

 
 
 
 
 
 
 
 
Earnings (loss) per share attributable to Ocwen stockholders - Basic and Diluted
 
 
 
 
 
 
 
Continuing operations
$
(0.03
)
 
$
(0.31
)
 
$
(0.22
)
 
$
0.02

Discontinued operations
0.01

 
—

 
—

 
—

 
$
(0.02
)
 
$
(0.31
)
 
$
(0.22
)
 
$
0.02


(1)
The quarter ended December 31, 2018 includes the results of operations of PHH from the acquisition date of October 4, 2018 through December 31, 2018. See Note 2 — Business Acquisition for additional information.
(2)
Includes a bargain purchase gain, net of tax, of $64.0 million recognized during the quarter ended December 31, 2018 in connection with the acquisition of PHH.